Livspace revenue rises by 85 percent to nearly Rs 1,100 crore in FY23

Home renovation platform Livspace on Friday reported that its revenue rose by 85 percent to around Rs 1,100 crore during the last fiscal year.

Its revenue stood at Singapore dollar 101.75 million in the previous fiscal year. The figure rose by 85 percent to Singapore dollar 188 million, or around Rs 1,100 crore, during the last fiscal year.

The company's EBITDA losses narrowed to Singapore dollar 95.35 million from Singapore dollar 96.86 million during the period under review.

In a statement, Livspace Chief Strategy Officer Ankit Shah said, "We achieved a top-line growth of 85 percent across business, with our revenue reaching nearly Rs 1,100 crore. Business expansion, investment in branding and experience centres, and improving the supply chain helped the company achieve high growth in the fiscal year." The company aims to become cash positive by the end of Financial Year 2024 and continues to invest in strategic partnerships, creating value across its ecosystem, the statement said.